'GST to cut burden by up to 30 pc'

The tax burden will go down by as much as 25-30 per cent on tax payers after introduction of Goods and Service Tax (GST), Revenue Secretary, P.V. Bhide said on Wednesday.

He was speaking at the national conference, 'GST - Roadmap To 2010' organised by Assocham. He added, "The real estate would be brought under GST net since discussions in this regard between centre and states are almost conclusive." However, he refused to share more details on the same.

Responding to a query on difference of views on certain GST issues between Empowered Committee of State Finance Ministers as well as the 13th Finance Commission, Bhide admitted that there are divergent views on certain issues relating to GST between the two. He added, the distortions in existing direct and indirect tax system will be removed and addressed to once the GST is put in place.

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